Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 22,071, 8,074 total housing units (homes and apartments), and a median house value of $2,313,678, Millbrae house prices are not only among the most expensive in California, Millbrae real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Millbrae, accounting for 63.97% of the city's housing units. Other types of housing that are prevalent in Millbrae include large apartment complexes or high rise apartments ( 27.96%), duplexes, homes converted to apartments or other small apartment buildings ( 4.20%), and a few row houses and other attached homes ( 3.55%).
The most prevalent building size and type in Millbrae are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.58% owning and 39.42% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Millbrae's housing was primarily built during this period, from the '40s through the '60s. A full 61.84% of the city's housing hails from this era. Other housing ages represented in Millbrae include homes built between 1970-1999 ( 21.72%) and housing constructed between 2000 and later ( 9.36%). There's also some housing in Millbrae built before 1939 ( 7.09%).
Appreciation rates for homes in Millbrae have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.84%, which ranks in the top 50% nationwide. This equates to an annual average Millbrae house appreciation rate of 6.62%.
Over the last year, Millbrae appreciation rates have trailed the rest of the nation. In the last twelve months, Millbrae's appreciation rate has been 4.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millbrae were at 2.58%, which equates to an annual appreciation rate of 10.71%.
Relative to California, our data show that Millbrae's latest annual appreciation rate is lower than 60% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Millbrae differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Millbrae - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Millbrae real estate investment or home purchase decisions.
$2,313,678
for California
for nation
8,074
$5,290 / per month